Despite facing claims that he is the richest man in Europe, Russian Prime Minister Vladimir Putin is actually worth a mere $179,612, according to Russia’s central election commission.

His income from the past four years was $557,744, and Putin owns two modest apartments in Moscow and St. Petersburg, along with some land. He also owns several cars, including two vintage Volgas (a 1960 GAZ M21 and a 1965 GAZ M-21P) a 2009 Lada, and a customized car trailer, but he usually travels in an armored state-owned Mercedes.

The declaration of Putin’s actual worth comes prior to the Russian presidential election in March, which Putin is almost certain to win for his second term. Yet, Russian’s are likely to be weary of the announcement due to past bureaucratic corruption.

Top Russian officials have been required to disclose their earnings since 2008, but the reform is widely flouted.